I personally don't like mutual funds and would much rather build my own mutual fund by just buying the stocks that mutual funds hold, the fees on mutual funds are growth killers at 2.5 to 3.5 %, meaning you don't make a nickle until the returns exceed the fees. ETF's are a much better way to go if you don't have the capital to diversify on your own.
On a different note, not clear why you would want to sell your mutual funds in a down market unless you think they will never come back. You should be buying more if you think the market is down.
Its like saying "honey housing prices have tanked so we better sell, we can buy back in when the prices go back up" Makes no sense to me.
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